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Nikkei Markets

Malaysia revives China-backed rail project to spur growth

China Exim Bank agrees to lend 85% of project cost, to soon ink funding pact

The ECRL is one among the few big ticket infrastructure projects that Mahathir has sought to revive to perk up activities in a trade-reliant economy amid mounting external uncertainties and sluggish domestic demand.   © Reuters

KUALA LUMPUR (Nikkei Markets) -- Malaysia Thursday relaunched a $11 billion China-backed rail project after slashing the construction cost by a third, which is expected to rev up activities in a slowing economy and reduce interest liability of the government hobbling under massive debt.

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